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English definition of “final payment”

final payment

noun [C or U]     FINANCE
the last in a series of payments , or the amount needed to pay off a debt : final payment of sth Final payment of the balance must be made at least 60 days prior to closing the account . A final payment of $315.70 is due on July 1st.
(Definition of final payment noun from the Cambridge Business English Dictionary © Cambridge University Press)
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